1053 ET - CGI's weaker 2Q is unlikely to ease the negative sentiment weighing on software stocks, says TD Cowen analyst David Kwan. He points to "the modest revenue miss, organic growth remaining negative, and the 4% y/y decline in bookings driven by weaker managed-services demand." Software companies have been hit in recent months by "AI-driven share price weakness," as concerns about artificial intelligence disrupting traditional software models continue to pressure valuations. CGI shares are down 9.9% at C$90.73 and have fallen 28% so far this year. (adriano.marchese@wsj.com)
(END) Dow Jones Newswires
April 29, 2026 10:53 ET (14:53 GMT)
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